Low electricity rates to the miners of crypto-currencies in Japan

The renewable energy provider, Looop, announced an offer of electrical energy to reduce the cost for miners of Bitcoins and other crypto-microjobs. The package provides for a flat monthly fee for the use of electricity up to a certain level.

Looop is revolutionizing the retail electricity

Looop Co. Ltd is a renewable energy provider based in Tokyo that offers products and services of natural energy and electricity services at the retail level. The company was born out of a volunteer activity to put in place of the photovoltaic energy in the area affected by the earthquake of 2011. After the liberalization of the electricity market at the retail level in April 2016, Looop is entered on this market. Today, more than 55,000 households in japan make use Looop to have electricity. The company has recently announced a new offer adapted to the miners of crypto-currencies. Looop is called the tariff plan ” Mining Flat “. Customers can start to apply for this new service starting this month.

Packages adapted to all needs

Looop has explained that the customers can opt for a contract of 1 kW (10A or 1kVA) which allows you to use up to 250 kWh for a monthly cost of 6170 yen. There is also a contract of 3 kW with the possibility to use up to 750 kWh. Overages are charged at 22 yen for each kWh. According to an estimate by IT Media, the monthly cost of the electricity for the contract of 3 kw is less than the 16.9 % that TEPCO, the leading provider of electricity in Japan would charge for a similar service.

The mining of crypto-currencies has the wind in its sails to Japan

Many japanese companies engage in mining of crypto-currencies. Last month, the company GMO Internet has announced plans to mine for Bitcoin and manufacturing of chip ASIC. The company will invest 10 billion yen to build a factory mine in the north of Europe. Last week, we also learned that two other large japanese companies, SBI Holdingset Monex Group, have launched their own activities mining of Bitcoin.